Domino Media Group, the hybrid home and decor content and commerce company, has hired Nathan Coyle as chief executive officer.
He succeeds cofounder and former ceo Cliff Sirlin, who joins the board of directors.
Coyle comes to Domino from Refinery 29, where he served as executive vice president leading business development, video strategy and the creation of the influencer division “Here & Now.” Prior to that, he held senior jobs at AOL/Cambio and CAA, where he helped create the agency’s digital content arm.
Domino, which launched in 2005 as a Condé Nast magazine and shuttered four years later, was relaunched in 2013 as a quarterly magazine, and e-commerce-infused web site. Condé Nast holds a stake in the company and has a board seat, along with venture capital firms LaunchCapital, iNovia and Domino founders Sirlin, Andy Appelbaum and Aaron Wallace. Condé also prints and distributes the magazine.
Coyle told WWD that his mission coming in as ceo is to grow a network of home and design influencers who can help pump up e-commerce, as well as Domino’s native advertising offering, particularly in video, and its digital editorial team.
“The Domino brand has built this incredibly passionate fan base,” Coyle said. “My perspective on the media industry, on the headwinds we are going to face is, it’s going to get rougher before it gets stronger…Brand [identity] is going to separate winners from losers.”
The executive noted that since Domino’s web site was created in 2013, it has garnered nearly 1 million monthly unique visits. Revenue in that period has expanded 500 percent, and has reached an annual run rate of $3 million from e-commerce, Domino said. In addition, its e-commerce revenue has grown from $30,000 a month to $230,000 a month with the average order value from a purchase hitting $150. Since it relaunched as a quarterly, Domino charges $12.99 on the newsstand, or $48 for an annual subscription.
Although print advertising is distressed on the whole, Coyle noted that Domino’s print magazine is “profitable,” and circulation is slowly growing. He declined to provide financials or circulation figures.
“In certain key verticals — fashion, design, home [advertisers are spending]. Print is here to stay,” he offered. “The customer delights in seeing beautiful images.”
In terms of e-commerce, Domino uses a drop-ship model, with more than 600 vendors and 8,000 product stockkeeping units. That mix will likely diversify and grow with the addition of influencers. The ceo explained that the home and decor space “lacks” the defined influencer network of style and fashion, and that Domino looks to seize on that.
The company is also gearing up to move to a new 5,000-square-foot office and studio on 39th Street and Eighth Avenue, close to its current headquarters in Midtown Manhattan. There, Domino will have a test kitchen and photo studio, which will allow it to build native content.
“I believe that the brand has the power and authority to expand into more lifestyle type verticals,” said Coyle, who added that Domino will veer into newer coverage territories, such as entertaining, food and recipes and health and wellness.